Investors Welcome Spain's Spending Cuts, Markets Close Higher


Investors welcomed Spain's plan to cut government jobs and wages in order to reign in spending. The markets closed higher with the Dow surging 144 points to 10,896 while Nasdaq jumped 49 points to 2425.

On the upside

InfoLogix (Nasdaq: IFLG) partnered with Wavelink to offer voice-enabled mobile solutions for SAP transactions.

The Food and Drug Administration approved Metabolix's (Nasdaq: MBLX) Mirel F1005 and F1006 for non-alcoholic food contact applications.

SAP is about ready to close a deal to acquire Sybase (NYSE: SY) for approximately $6 billion.

Fourth quarter earnings for inTEST (Nasdaq: INTT) surged as revenue climbed.

On the downside

Team Health Holdings (NYSE: TMH) blamed one-time charges for sharply lower first quarter earnings.

Walt Disney (NYSE: DIS) reported higher second quarter earnings as the company's movie revenue rose but amusement park and televison income disappointed.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 20 points to 716.

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This page contains a single entry by published on May 12, 2010 1:49 PM.

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